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Judgment Search Results Home > Cases Phrase: indian partnership act Court: gujarat Year: 1987 Page 1 of about 4 results (0.016 seconds)

Sep 11 1987 (HC)

Harijan Boot House Vs. Registrar of Firms

Court : Gujarat

Decided on : Sep-11-1987

Reported in : (1988)1GLR11; [1988]171ITR549(Guj)

..... challenged the legality and validity of the aforesaid order. 5. it may be noted that there is no provision in the indian partnership act, 1932, which makes it obligatory on the part of a firm to get itself registered with the registrar of firms. the registration of a ..... partnership firm is optional. sections 58, 59, 63 and 69 of the indian partnership act are the relevant provisions which are required to be read together. section 58 of the act provides that registration of a firm may be effected at any time ..... not registered. there is no direct compulsion for getting a firm registered. however, no member of an unregistered firm can enforce his right under the partnership act, against either the firm or any present or past member of the firm nor can the firm sue its customers on their contracts. the firm ..... the date when the necessary entry is made in the register of firms by the registrar of firms. similarly, even under section 69 of the partnership act, which deals with the effect of non-registration, the registration of a firm subsequent to the filing of a suit does not cure the defect. ..... reference may be made to the case of rajasthan trading company v. registrar of firms, : air1975ap232 . the andhra pradesh government framed rules as a.p. partnership (registration of firms) rules (1957). rule 4(2) thereof provided that the application for recording changes in the constitution of the firm as provided under section .....

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Oct 13 1987 (HC)

Mahendra Mohanlal Mistry Vs. Mehta Mohanlal Mathurdas

Court : Gujarat

Decided on : Oct-13-1987

Reported in : AIR1988Guj110

..... present appeal.3. the facts leading to the present appeal may shortly be stated as under :the respondent no. 1 is a partnership firm registered under the indian partnership act and deals in shroff business, i.e. to say, it deals in money lending transactions. the appellant had entered into an ..... of 1977, filed in the courtof the learned 2nd joint civil judge (senior division), godhra by the respondent, m/s. mehta mohanlal mathurdas, a partnership firm through its partners, (1) ramanlal mohanlal mehta, and (2) sankalchand mohanlal mehta,having died through rameshchandra sankalchand mehta, both of godhra (district panchamahals ..... conflicting views of the two courts in india regarding the question of onus, in view of the presumption under section 114 of the indian evidence act their lordships are of opinion that the subordinate judge was right in holding that the production by the defendant of the bond with the ..... appellant is disbelieved. in such circumstances, i find force in the argument of mr. zaveri that a presumption under section 114 of the indian evidence act arises. it is pertinent to note that the respondents have not produced their books of accounts to prove several important facts involved in the ..... to say when the versions of the rival sides are found unbelievable, there still remains a question of presumption under section 114 of the indian evidence act read with illustration (i). the effect is that the court may presume the existence of any fact which he thinks likely to have .....

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Apr 09 1987 (HC)

Commissioner of Income Tax Vs. Harikishan Jethalal Patel

Court : Gujarat

Decided on : Apr-09-1987

Reported in : (1987)65CTR(Guj)54; [1987]168ITR472(Guj)

..... cannot be stock-in-trade without an existing business. he, therefor, concluded that at the time when the land came to be transferred to the partnership firm as contribution towards capital, it was not stock-in-trade but continued to be capital assets. relying on the decision of the income-tax appellate ..... in holding that there was a transfer within the meaning of clause (47) of section 2 of the income-tax act, 1961, of the shares contributed by the assessee as capital to the partnership firm in which he was a partner ?' 9. the high court answered the questions in favour of the revenue ..... he computed the capital gains in the hands of the assessee under section 48 of the act. if the supreme court had not come to the conclusion that the amount credited in the account books of the partnership as the price of the land was merely notional, the question of remanding the matter ..... that the agricultural land which was transferred by the hindu undivided family to the partnership firm constituted transfer of a capital assets within the meaning of section 2(14) read with section 2(47) of the act and the profit realised on the transfer thereof amounted to capital gains and was ..... the act. however, while parting with the matter, the supreme court made the following observation which emboldened the departmental representative to seek a remand for a further inquiry into the genuineness of the transaction and the firm (p. 523) : 'we have decided these appeals on the assumption that the partnership firm .....

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Aug 18 1987 (HC)

Commissioner of Income-tax Vs. Deepak Textile Industries Ltd.

Court : Gujarat

Decided on : Aug-18-1987

Reported in : (1987)66CTR(Guj)34; [1987]168ITR773(Guj)

..... is by setting it off against the income, profits and gains under other heads and for that purpose they considered the case of a partnership firm in which two partners were carrying on other business while other two partners were carrying on no other business. if the unabsorbed depreciation ..... were carrying on other business, it was observed that (at p. 559) 'in our opinion, this suggestion is unsound. what would happen if a partnership consists of four partners, two carrying on other business and two carrying on no other business, mr. shastri was unable to explain. now, if ..... in it was held that when the profits and gains of business are insufficient to cover depreciation allowance under section 10(2)(vi) of the indian income-tax act, 1922, the excess depreciation can be set off against the capital gains for that year. similarly, the supreme court in that case also considered ..... 59itr555(sc) , as to whether the unabsorbed depreciation of the past year is deductible form the total income of the accounting year under the indian income-tax act 1922. in the said case, it was held that the unabsorbed depreciation of past years had to be added to the depreciation of the current ..... 35, to be carried forward, effect shall first be given to the provisions of this section, namely, section 72. similarly, section 73 of the act provides for losses in speculation business and sub-section (3) thereof provides that in respect of allowance on account of depreciation or capital expenditure on scientific .....

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